Russell: China's crude oil imports in November recover and other commodities remain strong
The Chinese economy is having a great week, as the outlook has improved amid new stimulus measures. Commodity imports have also performed well in November. The CSI300 index, which is the benchmark, rose 3.2% on the opening day, while government bonds rallied.
China Opening May Spark Iron Ore Markets
In the relatively short space of the past decade the paper iron ore market has grown from virtually nothing to exceed the physical market, but now the industry is grappling with what comes next. While the growth in iron ore futures and exchanged-cleared swaps has been impressive…
Noble Amends Restructuring Plan, Scrambles for Shareholder Support
Noble's action on shareholders was criticised by SGX; Noble needs shareholders to support its restructuring. Bowing to criticism from the Singapore Exchange (SGX) and other investors, embattled Noble Group is removing a provision in…
$3 Bln LNG-to-power Project Planned in Bay of Bengal
Bangladesh's Summit Power International said on Tuesday it signed a memorandum of understanding with Japan's Mitsubishi Corp and subsidiary Diamond Gas International to develop a $3 billion LNG-to-power project. Under the MoU, subsidiary Summit Corp…
Sembcorp Industries' Energy Arm Files IPO Papers
Sembcorp Energy India, an independent power producer, filed draft papers with capital markets regulator Sebi to float an initial public offering (IPO). The company, which has thermal and renewable power assets in India, is promoted by the Singapore Exchange-listed Sembcorp Industries.
Trafigura, Eni Execute Landmark LNG Futures Contract
Commodity trader Trafigura and Eni Trading and Shipping traded the first liquefied natural gas (LNG) futures contract representing delivered prices to Dubai, Kuwait and India, Singapore Exchange (SGX) said on Wednesday. A total of 100…
Coal's Rally Isn't All About China
It is increasingly popular to write obituaries for coal, with analysts, market watchers, investors and utility bosses leaping on the bandwagon, declaiming that the days of the polluting fuel are numbered. Certainly the long-term outlook…
Hong Kong pins Aramco IPO Hopes on China's Deep Pockets
Saudi expects to float 5 pct of state oil company for $100 bln; HKEX hopes to leverage deep-pocketed China investors to woo Riyadh. Hong Kong's stock exchange will bank on its role as a gateway to mainland China's deep-pocketed investors…
Saudi Aramco taps JPMorgan, M.Stanley for IPO
Listing of Aramco could raise up to $100 billion. Oil giant Saudi Aramco has asked JPMorgan Chase & Co and Morgan Stanley to assist with its upcoming mammoth IPO and could call on another bank with access to Chinese investors, a source with direct knowledge of the matter said. The U.S.
SGX, Saudi Aramco Discuss Secondary Listing
Singapore Exchange has held talks with Saudi Aramco on a secondary listing, two sources familiar with the matter said on Monday, after the oil and gas company suggested last week it would likely simultaneously list on more than one exchange.
Oil Prices Rise as Saudi Arabia Discusses Supply Cuts
Oil prices rose on Thursday after Saudi Arabia started talks with customers about a reduction in crude sales to support a plan by OPEC to lower global supply. The Organization of the Petroleum Exporting Countries promised in November to cut output to help prop up prices.
SGX, TOCOM to Jointly Develop Asian LNG Market
Singapore Exchange (SGX) and Japan's Tokyo Commodity Exchange (TOCOM) have signed a memorandum of understanding to jointly develop the liquefied natural gas (LNG) market and electricity futures in Asia. SGX and TOCOM are expected to…
Swiber Applies for Judicial Management Instead of Liquidation
Singapore oilfield services company Swiber Holdings Ltd said on Friday it has applied to place itself under judicial management instead of liquidation. Swiber shocked markets earlier this week by filing for liquidation, as it faced hundreds…
Oil Loses Commodity Trade Crown to Unlikely Challenger
China Apr rebar turnover overtakes crude, but many wary China's soaring rebar trading will collapse. Crude oil futures, long the king of commodity trading, have lost their dominant position as the world's most traded and valuable derivative…
Chevron's Gorgon LNG to Push Asian Spot Trading
Chevron has started up its massive Gorgon LNG project in Australia and will soon be shipping more of the super-chilled fuel into an oversupplied market, eroding producer revenues but also likely hastening the advent of a liquid Asian spot market.
Trafigura's First Singapore LNG Derivatives Deal
Singapore Exchange said on Monday that European trading house Trafigura and locally based Pavilion Gas made the first trade of a just-launched derivatives contract for liquefied natural gas (LNG). The transaction, worth some $50,000…
Moody's Cuts Noble's Rating to Junk
Moody's says has concerns over company's liquidity. The chief executive of embattled commodity trader Noble Group Ltd defended its financial position after what it called an "unexpected" move by Moody's Investors Service to cut its credit rating to junk status…
Coming LNG Wave Headed to Europe
What's well known is that a wave of new liquefied natural gas (LNG) is about to swamp already well-supplied markets, what's less known is how exactly these new cargoes will be absorbed. The consensus assumption has always been that China…
Asia Oil Trading at 'Inflection Point': Russell
Imagine what crude oil trading will look like in Asia in 10 years' time. Probably quite different to like it does now. In recent months oil markets east of Suez have been roiled by the increasing influence of the trading arms of China's state-controlled giants, PetroChina and Sinopec .
Noble Group Flags Potential Suitors
Noble says can fund $735 mln bond redemption due this week. Noble Group, Asia's biggest commodity trader, flagged potential support from strategic investors as it stepped up its campaign to reverse a dramatic plunge in its share price on concerns about its accounting practices.
